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Hungary construction output slips further 7.2% in August

Output of Hungary's construction sector fell 7.2% in August from the same month a year earlier, according to both unadjusted and workday-adjusted figures, the Central Statistical Office (KSH) said on Friday.

The August drop followed a decrease of 5.1% in July, a 15.9% rise in June, a 9.6% fall in May and an 8.0% decline in April.

In January-August, output was 3.1% down from the same period a year earlier. In a seasonally-adjusted month-on-month comparison, output dropped 0.1% in August.

Twelve-month buildings output fell 15.7% in August, but civil engineering output rose 3.5% because of big public sector investments, such as construction of the M6 motorway and the capital's fourth underground line.

Construction sector order stock was up 7.1% in volume terms in August from twelve months earlier, increasing for the sixth month in a row. Order stock for building construction was up 1.8%. Orders for civil engineering projects climbed 11.3% because of contracts signed earlier in the year.

New order stock rose 12.6% in August from the same month a year earlier. New orders in the building construction segment were up 12.2% because of a few contracts signed for big commercial and industrial buildings. New orders in the civil engineering segment were up 13.4%, because of road, utilities and other public sector projects. (MTI-Econews)